Mesirow Financial Investment Management Inc. Has $1.48 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Mesirow Financial Investment Management Inc. increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 11.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,459 shares of the financial services provider’s stock after acquiring an additional 351 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Ameriprise Financial were worth $1,478,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Janney Montgomery Scott LLC raised its holdings in shares of Ameriprise Financial by 4.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,658 shares of the financial services provider’s stock valued at $6,328,000 after buying an additional 765 shares during the last quarter. Independent Advisor Alliance raised its stake in shares of Ameriprise Financial by 16.6% in the fourth quarter. Independent Advisor Alliance now owns 2,749 shares of the financial services provider’s stock worth $1,044,000 after acquiring an additional 391 shares during the last quarter. TrinityPoint Wealth LLC raised its stake in shares of Ameriprise Financial by 15.4% in the fourth quarter. TrinityPoint Wealth LLC now owns 1,697 shares of the financial services provider’s stock worth $645,000 after acquiring an additional 227 shares during the last quarter. ING Groep NV lifted its position in shares of Ameriprise Financial by 44.0% during the fourth quarter. ING Groep NV now owns 18,551 shares of the financial services provider’s stock worth $7,046,000 after purchasing an additional 5,667 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $514,539,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $445.14 on Tuesday. The firm’s 50 day simple moving average is $428.80 and its 200 day simple moving average is $427.44. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $450.35. The company has a market capitalization of $44.21 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 0.75 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the business posted $7.44 earnings per share. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a dividend of $1.48 per share. The ex-dividend date was Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.33%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Piper Sandler dropped their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. UBS Group decreased their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Morgan Stanley dropped their price objective on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $464.33.

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.